Newstead Foundation

OLD SAYBROOK, CT EIN: 22-6054885

Newstead Foundation is a private foundation, based in OLD SAYBROOK, CT. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $793K in total assets. In 2024, it awarded 7 grants totaling $71K.

Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

$793K

-12.4% YoY

Annual Giving

$71K

+610.5% YoY

Grant Count

+600.0% YoY

Avg Grant Size

$10K

+1.5% YoY

Under IRS private-foundation payout rules, Newstead Foundation reported a distributable amount of $66K for 2024 — the minimum it must pay out in qualifying distributions.

About Newstead Foundation

Based on IRS filings

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Geographic Focus

Where this funder awards grants

Grant Distribution by State

Virginia $218K (53%)

Connecticut $48K (11%)

Florida $45K (11%)

Massachusetts $30K (7%)

South Carolina $25K (6%)

Kentucky $20K (5%)

Tennessee $8K (2%)

District of Columbia $7K (2%)

+2 more states

States

California Connecticut District of Columbia Florida Kentucky Massachusetts New York South Carolina Tennessee Virginia

Cities

AldieArlingtonBridgehamptonCamdenCazenoviaFranklinHaymarketLaguna HillsLeesburgLexingtonMemphisMiddleburgSacramentoUppervilleWashingtonWellingtonWestportWestwood

Financial History

Multi-year comparison from IRS filings

Revenue

Expenses

Qualifying Distributions

Net Investment Income

Metric	2024	2023	2022
Total Assets	$792,698	$904,668	$878,920
Revenue	$-37,905	$32,967	$153,699
Expenses	$94,006	$21,919	$159,038
Qualifying Distributions	$71,050	$10,000	$142,500
Net Investment Income	—	$21,048	$137,161
Distributable Amount	$65,568	$54,772	$58,657

Giving Over Time

Total grant dollars and number of grants per year

Grant Insights

How this funder distributes its grants

Top Recipients

Top 7 recipients in 2024

Grant Size Distribution

50 grants across all recorded years

Giving History

Grant recipients and amounts by year

Among its reported 2024 grants, the largest include Equus Foundation Inc ($25,000), Sprout Therapeutic Riding Center ($20,000), Foxcroft School ($10,000).

Recipient	Purpose	Amount
FOXCROFT SCHOOL MIDDLEBURG, VA	GENERAL USE	$10,000
DANNY & RON'S RESCUE CAMDEN, SC	GENERAL USE	$10,000
EQUUS FOUNDATION INC WESTPORT, CT	GENERAL USE	$25,000
SPROUT THERAPEUTIC RIDING CENTER ALDIE, VA	GENERAL USE	$20,000
NAMI-NAT'L ALLIANCE MENTAL ILLNESS ARLINGTON, VA	GENERAL USE	$2,040
RED ROVER-THE PURPLE LEASH SACRAMENTO, CA	GENERAL USE	$2,000
SHELDRICK WILDLIFE TRUST USA LAGUNA HILLS, CA	GENERAL USE	$2,010

Leadership & Key People

Officers and directors from IRS filings

Compensation Overview

From 2024 IRS filing

From 2024 filing

Name	Title	Hours	Compensation
ALISON F ROBITAILLE	TRUSTEE	—	—
RICHARD F PAPPALARDO	TRUSTEE	—	—

Frequently Asked Questions

How large is Newstead Foundation?

As of 2024, Newstead Foundation holds $793K in total assets with $-37,905 in annual revenue. It awarded 7 grants totaling $71K in 2024.

Where does Newstead Foundation operate?

Newstead Foundation has awarded grants in California, Connecticut, District of Columbia, Florida, Kentucky, Massachusetts, New York, South Carolina, Tennessee, Virginia.

What size grants does Newstead Foundation award?

In 2024, Newstead Foundation awarded 7 grants totaling $71K — an average of about $10K per grant, based on its IRS Form 990 filings.

How much is Newstead Foundation required to give away each year?

Private foundations must generally distribute about 5% of their assets annually. For 2024, Newstead Foundation reported a distributable amount of $66K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.